Miami’s Mayor Says City Might Invest in Bitcoin

Miami’s Mayor Says they Might Invest in Bitcoin

Frances Suarez, the mayor of Miami, has revealed that the city may explore making investments in Bitcoin. He said that they would start with an investment of 1% of the treasury reserve of Miami into the leading cryptocurrency. Earlier today, a tweet was made by Anthony Pompliano, a well-known Bitcoin enthusiast, about Bitcoin and it appears to have caught the attention of the crypto space. He even asked his followers to retweet considering moving to Miami if the city did go ahead with investing 1% of the treasury reserve into the first cryptocurrency. In the course of an hour, the enthusiast’s tweet had been shared nearly 1,200 times.

It is interesting to note that the tweet, and then the retweet, also gained the attention of Miami’s mayor, Frances Suarez and he decided to respond to it. The mayor said that they could explore the possibility of making an investment in Bitcoin considering the reaction that had been given to the original tweet. Suarez also talked about the growing popularity and importance of Bitcoin by referring to it as a ‘stable investment’ during a year that has been ‘incredibly unstable’ to say the least. He also disclosed that he was learning a great deal more about the top crypto from Bitcoin proponents like Tyler Winklevoss and Anthony Pompliano.

However, it remains unclear as to whether Suarez really does have plans of investing in Bitcoin, or if he was just tweeting for the sake of it. It remains to be seen whether this will become the reality or not. Nonetheless, it cannot be denied that this is exactly the kind of news that the crypto community and Bitcoin enthusiasts want to hear. The fact that top-ranked government officials are also talking about investing in Bitcoin is already a step in the right direction for the growth of the crypto space, as a whole.

Tyler also responded to Suarez’s tweet and said that he would inform the mayor more about the crypto industry by delivering a signed company of Bitcoin Billionaires to him. On the other hand, Pompliano said that Bitcoin was going to be the future of Miami. Cryptocurrencies and Bitcoin have been seeing a great deal of interest and attention from the mainstream these days. Cynthia Lummis, a US-senator elect, who also holds Bitcoin, recently said that she would make an effort to help the US congress understand Bitcoin’s value. 

There are some states in the United States, such as Ohio, where citizens do have the option of using Bitcoin to pay their taxes. However, there is no state or city that has considered the idea of investing in crypto by using its treasury reserve funds. The fact that such discussions are now taking place is a big boost for the crypto industry. The interest taken in Bitcoin by a government official is not news anymore. The new fact about this news is that a city in the United States might actually make an investment in Bitcoin, which certainly hasn’t happened before.

Jerry Dedmon

Author: Jerry Dedmon

Jerry Dedmon is a new writer on Cryptocoin Stock Exchange, his articles are cryptocurrency news, analysis and blockchain news based. We recommend tuning in for Jerry's daily posts as they are always a great and interesting read.

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